Oil Search Deepens Taza 1 Well in Iraq

Source: www.gulfoilandgas.com 1/17/2013, Location: Middle East

Oil Search reports that the Taza 1 ST1 well was at a depth of 3,238 metres and drilling ahead.

During the week, the hydrocarbon influx reported last week was monitored and controlled before pulling out of hole to change the bottom-hole assembly. A further 32 metres of new formation was then drilled, with a minor hydrocarbon influx observed and controlled at 3,231 metres. The forward programme is to drill ahead to the Euphrates Formation.

The Taza prospect is located approximately 80 kilometres southwest of the city of Sulaymaniyah. The primary objectives are Miocene and Oligocene carbonates of the Jeribe and Euphrates Formations.

The participants in Taza 1 are:
Oil Search (Iraq) Limited 60%
Total E&P Kurdistan Region of Iraq (Taza) B.V. 20%
Kurdistan Regional Government (KRG) 20%

Oil Search’s funding interest is 75%, with the KRG carried by Oil Search and Total E&P Kurdistan Region of Iraq (Taza) B.V.


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